USDCHF Navigates Back to the 0.90890 Key Zone

USDCHF Analysis – Sellers Continue to Suppress the Price Tendency

USDCHF navigates back to the 0.90890 key zone as sellers continue to suppress buying tendencies. The daily chart shows that the price has been forming lower lows and highs, as the bulls failed to break through the 0.90890 level last week. Despite the attempted breakout, sellers have been pushing the currency pair back to the 0.90890 significant level. At the moment, it seems that sellers are still in control of the market, as they continue to suppress the buying tendency. As such, traders should remain cautious when trading USDCHF, as the market could remain volatile shortly. It is also important to note that the 0.90890 key zone could become a critical support or resistance level, depending on the direction of the market.

USDCHF Key Levels 

Resistance Levels: 1.01430, 0.98650
Support Levels: 0.92870, 0.90890

The USDCHF has been in a bearish trend for the past few months, with the market turning after the 1.01430 level was breached. Since then, the market has been in a downward spiral, with the Money Flow Index also turning bearish. Prices have been steadily decreasing, with sellers pushing the price from the 1.01430 level to the 0.90890 key zone. The bearish trend has been quite dominant in the currency pair, with the market continuing to move in a downward direction. 

The volume of sales has been increasing, indicating that the trend is likely to continue. This could be a great opportunity for investors looking to capitalize on the bearish trend. On the daily chart, the MACD (Moving Average Convergence and Divergence) signal line is still below the positive region as sellers still seek to control. The Money Flow shows price volume is still set to decline.

Market Expectation 

The 4-hour pictures show that pressure is still mounting on the currency pair. Selling action is therefore expected to flow back to the 0.90890 key zone. The MACD signal line is still set to trade lower in the short time frame.

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